Homework Answers
Answer
- Total Contract Cost will include:
>Direct material used
>Direct professional labor
>Overhead applied. - Overhead application rate
= 500000 euros / 250000 euros
= 200% of direct labor cost. - Total Contract cost = € 3500 + € 5000 + [€ 5000 x 200%]
= 3500 + 5000 + 10000
= € 18,500 Answer
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